Foreign aid management capacity building project launched
Friday, 3 August 2007
A project for "Capacity Building for Management of Foreign Aid in Bangladesh" was launched Thursday with the aim to strengthen capacity of the management of flow of external resources to the country and debt.
The project, initiated by the Government of Bangladesh, United Nations Development Programme (UNDP) and United Nations Conference on Trade and Development (UNCTAD), was formally launched at a function at the auditorium of the National Economic Council in the city.
The development project will be implemented with technical support from UNCTAD. The implementing agencies are Economic Relations Division (ERD) of the Ministry of Finance and UNCTAD.
The two-and-a-half-year project will cost around Taka 75.2 million of which Taka 66.5 million will be funded by UNDP and Taka 8.7 million by the government.
The launching function was attended, among others, by UNDP deputy country director Larry Maramis, UNCTAD representative Alvi Tola, Bangladesh Bank General Manager Abdul Malek and project director Mahmuda.
The project is aimed to broaden and deepen the coverage of debt and aid monitoring, promote the dissemination of comprehensive, consistent and timely information to enhance transparency on debt and aid management.
It will also strengthen the government's capacity to analyze the country's external debt and aid flow and help in the development of a debt and aid strategy for Bangladesh.
The project will provide Foreign Aid Budget and Accounts Branch of ERD with UNCTAD's "Debt Management and Financial Analysis System" (DMFAS), an international standard computer based software.
The UNCTAD will install its latest version in ERD and Bangladesh Bank for monitoring, processing, validating, reporting and effectively managing public external loans and grants and monitoring private sector external debt.
The project, initiated by the Government of Bangladesh, United Nations Development Programme (UNDP) and United Nations Conference on Trade and Development (UNCTAD), was formally launched at a function at the auditorium of the National Economic Council in the city.
The development project will be implemented with technical support from UNCTAD. The implementing agencies are Economic Relations Division (ERD) of the Ministry of Finance and UNCTAD.
The two-and-a-half-year project will cost around Taka 75.2 million of which Taka 66.5 million will be funded by UNDP and Taka 8.7 million by the government.
The launching function was attended, among others, by UNDP deputy country director Larry Maramis, UNCTAD representative Alvi Tola, Bangladesh Bank General Manager Abdul Malek and project director Mahmuda.
The project is aimed to broaden and deepen the coverage of debt and aid monitoring, promote the dissemination of comprehensive, consistent and timely information to enhance transparency on debt and aid management.
It will also strengthen the government's capacity to analyze the country's external debt and aid flow and help in the development of a debt and aid strategy for Bangladesh.
The project will provide Foreign Aid Budget and Accounts Branch of ERD with UNCTAD's "Debt Management and Financial Analysis System" (DMFAS), an international standard computer based software.
The UNCTAD will install its latest version in ERD and Bangladesh Bank for monitoring, processing, validating, reporting and effectively managing public external loans and grants and monitoring private sector external debt.